The global retail real estate industry is in transition to become a combination of physical and digital marketplaces. Yet, there is a very important player that is entirely missing from this transition: the shopping center. "On average shopping centers have close to zero revenue from e-commerce today, all of it is on the tenant side," Placewise CEO Peter Tonstad tells GlobeSt.com.
This is a significant shortfall when you consider that in 2021 13% of total retail sales in the US was e-commerce, he says. "As e-commerce grows physical retail declines, so shopping centers need to become a part of the e-commerce economy to ensure growth in the future."
Another factor to consider is that consumers expect omni channel shopping experiences from their preferred center, Tonstad says.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
